the order was entered 20min before the close, well after the indices started tanking. My feeling is that the order was not an error. In fact , I think Bear Sterns will most likely try to unload the rest on Thursday.

interesting article, but they said they cancelled almost all of it. However, whatever technical damage that happened is already in the charts. I think the markets are a real coin toss right here, there are classical TA indications for a bounce, there are fundamental reasons for a crash. The action in the last hour hurt the TA a little but only on the very short term so far, it depends on whether there is any follow through.

Originally posted by RainMaker3000 the order was entered 20min before the close, well after the indices started tanking. My feeling is that the order was not an error. In fact , I think Bear Sterns will most likely try to unload the rest on Thursday.

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I don't think so. If they did want to execute an order that large, they would be crazy to reveal their hand like that.